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Below is an Interesting article I found, which says that.....Do not , ^) K6 c, O' z( X) B8 `
expect much from Crude Oil producers and future is not with the
9 |( T' U5 z; w" H5 v F! K6 vcompanies producing Jet fuels but Biofuels. Also no wonder if some of
* ?: n0 M- p r; I( `/ I! _these oil producer will go bankrupt or out of the business even if 1 g, ] E! a! k
crude prices improves. This implies also to good names such as Shell, 7 O( t' F2 p6 p6 t
EXXON, BG, BP, Cheveron ....xyz.. oils 6 h. }* F7 T2 X5 J8 s: g9 v
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Recently OPEC reduced crude oil production twice over just a few
0 U7 b6 c1 O+ U0 i6 o9 C5 P8 G# lmonths. There are three wars going on in Gaza, Iraq and Afghandistan. c9 I, d& n/ s- M$ Y2 A7 m: f, E! k
A year ago these things would have spiked the price of crude oil by at 4 W' J9 W9 X# `) s* @4 m+ P
least $50.00 per barrel. Today, oil price declined by a record amount. " |7 g: Z- b# H' r0 |3 F! \6 S
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There are several reasons the price of oil is decreasing in the face ; A y$ x- y: c0 E9 N, V( V
of so much news. These reasons are:
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9 U* U3 l5 S2 `, J8 j4 R( s1. New oil has been found in Canada, Montana, North & South Dakota and
# }; n, s4 @) x2 S9 D* din the ocean near Brazil. Each of these oil fields has more oil than
6 ^* |$ L, h5 [& ^3 nArabia. $ h; y$ v5 G0 j2 ^& u% e5 M$ m; K
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2. New natural gas has been found in Pennsylvania and West Virginia.
% y2 p: m; _! n; MThis is the largest find in North America.
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8 I! H* ]! F1 O! v% ? G% k3. New methods of injecting CO2 and surfactants into oil wells is $ h+ d3 c w, W/ Z# e. u J; V
being used to double their output.
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4. Production of bio-fuels is beginning to reach critical mass. Bio 5 {1 H6 l: A) N5 n y
fuel is being produced from many plants and algae. The production
" ^, _! X2 C5 o. d3 |! a3 Kpotential per acre in some cases is astounding. Many countries are
+ B. _8 C% O8 c# {7 n; `0 Cracing to produce bio fuels.
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5. Virtually every restaurant in the US and all food processing plants
' l- e/ q+ I9 l" ware now selling their used oil to bio-diesel producers. Every pork,
) |8 y! {7 D* \( z8 Bcattle, turkey and chicken processing plant will soon sell their fat
+ d% x. g* |4 Y. L2 tto bio-diesel producers. One pork processing plant in Oklahoma is
# x; o3 d0 g1 b- {# mproducing 30,000 gallons of bio-diesel per day from pork fat.
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6. There are 99 nuclear reactors in various stages of planning and ; V' b0 F* P. Z# U5 V
construction around the world at this time. Several hundred more are ( S9 [; i- @7 h
expected to be built in the future. Much of the energy they produce
" r; A7 S4 I( w& L. p% cwill replace oil.
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3 E- p4 x6 s. Y* A7. Every company in any form of transportaion business is replacing
+ M! O/ {' y( g5 ]( ?6 ]2 zolder equipment such as trucks, airplanes, train engines, ships, etc. 9 m/ {, z" r/ C) S
with new more fuel efficient equipment. Airlines and railway companies " w Q" \+ W! ?' a: I
are experiencing 20% to 25% better fuel econony with the new 0 N6 x0 L( s- X. e& z
equipment.
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Airlines are flying airplanes with bio-fuel. They are finding the bio- . m( Z: ^0 T0 a, V$ ^
fuel is cleaner and performs better than jet fuel. / n! f, N0 |5 ~
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& v2 a3 I. ~- Z) s0 j8. Cities and counties throughout the US are selling the rights to
% A+ r& e" e# @; h; @" ccapture methane gas from landfills. This is a huge source of gas 4 m- _: h) k+ A3 f D
available at very little cost or risk. The gas is displacing crude : I' C+ l# c' E e5 s5 \
oil. : p/ w2 n8 e8 `7 d
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9. Coal is being transformed into a clean burning liquid fuel. The CO2
' O# f9 _: \% v- d& k- g, ]4 ~produced as a byproduct is sold to oil companies for injection into 8 D7 P1 e4 x+ t1 K) w) d' n
oil wells. ) p) H' f, f s* D* f5 l
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5 H, ~+ _" \7 G. o5 c( v10. Solar, wind and ocean energy is displacing oil as an energy $ ]* F( b T0 x5 v
source. Three new wind turbines are being erected every day in the US.
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Each of the above by itself will not make a large difference in the , n) l& ]3 a, Q- Q' i" m
price of crude oil but the sum of all of them together is world
: Y: J0 N- N3 ^changing. The important thing is that OPEC no longer has the ability
2 S. o% n" j, {3 n# B4 V1 tto control oil prices. / P' g# ^6 Z7 ]% q" k% e' ~
+ h+ q% n% u) I7 J( d" [: @. |
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With the above scenario, I still believe that there are under
: @1 Z3 ]7 F8 j9 eperformed OIL companies and probably they are yet to get the justified
7 @* H1 ]# m. I) w' s( h5 C9 p2 C9 ~value .....
+ P% B: N, W; U/ P# U. Z8 AIAE- Ithaca , EPL Energy Partners Ltd, Opti etc ... 7 e3 @- C. h$ S! h- n" p
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The above articles are from WSJ .............PUBLISHED ON 9TH JAN
3 @8 ^* z! l: W: t/ L' G) H2009 ... FYI-Only |
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发表于 2009-1-13 18:58
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